In a speech earlier this year, Rohit Chopra, director of the US Consumer Financial Protection Bureau (CFPB), brought attention to the fact that America’s most powerful banks and credit card companies have demonstrated a pattern of misconduct. “How can we stop big firms from repeatedly violating the law?” he asked, proposing that fines may not be the answer and that regulators could begin to revoke operating licenses.
This content is available to Members. Registered Observers can also access this article with a free account.
Members have full access to all articles and related content from past Compendium and Starling's regular updates and reports.
Observers can access a limited number of articles and may purchase articles on an ala carte basis.
Click the ‘Join’ button below to join Starling Insights or register for free as an Observer.